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Eurasian-Midwayan Trade Pact
| date_drafted = 15 September 2012 | date_signed = 20 September 2012 | location_signed = Aldebaran, Union of Midway | date_ratified = 22 September 2012 23 September 2012 | date_sealed = 24 September 2012 | date_effective = 23 October 2012 | condition_effective = A month after | date_expiration = None/Indefinite | condition_expire = A month before cancellation | signatories = Eurasian Federation Union of Midway | parties = | depositor = Eurasian Federation | language = | languages = | website = | notes = }} The Eurasian-Midwayan Trade Pact is a between the Union of Midway and the Eurasian Federation, the latter having initiated its conception and drafting. It is considered to be a binding covering and encouraging and and enhancing the of all . The also specifies on key products of both signatory parties which will be by the other: , , and . , , other will be selectively eliminated or reduced upon mutual agreement between Eurasia and Midway. Article 1 Implementation Section 1 Every term and condition stated in this treaty must be mutually enforced by both signatory parties. Section 2 A set amount, percentage, worth or measurement prescribed in this treaty must be followed by both signatory parties. Section 3 Acknowledging that economic environments differ from each other, a compromise may be allowed given that the other party has been notified. Section 4 This treaty would be introduced and take into effect a month after signatory parties have signed it. Article 2 Equivalent Exchange Section 1 A compensation must be given in exchange for a compromise. Section 2 Both parties must gain equally from this treaty. Section 3 Trade barriers for a certain agreed product must be the same for both signatory parties. Article 3 Free trade on seafood, agricultural products, and mined products (minerals, rocks, and ores) Section 1 Elimination of tariffs to all of the goods specified. Section 2 Elimination of import quotas to all of the goods specified. Section 3 Total exports per fiscal year must worth a gold standard of at least 20kg on seafood from Midway and agricultural and/or mined products from Eurasia. Article 4 Establishment of preferential trading Section 1 Tariffs should be lowered by at least 5% on every goods exported and imported between the signatory parties. Section 2 Tariff-rate quotas may be enforced on certain goods given that the other party has been notified and accepted the recommendation. Section 3 Import quotas on every goods between the signatory parties should be the same and would be increased by 20%. Section 4 This article does not apply to goods specified in Article 3. Article 5 Establishment of a bilateral investment agreement Section 1 Both parties agree on providing guarantees on foreign entities conducting foreign direct investments between the two signatory parties. Section 2 Foreign investing entities subjected to a judicial case concerning their line of profession would be tried by a joint court of the two signatory parties. Section 3 Confiscation of any property owned by a foreign investing entity is not allowed unless approved by both signatory parties. Section 4 Both signatory parties may investigate any foreign investing entity operating in the two countries. Section 5 A foreign investing entity harassed or had their rights violated would be given just compensation by the country involved. Article 6 Mitigating double taxes Section 1 Establishment of a mutual foreign tax credit system on certain subjects for taxation. Section 2 Credits may only be given if it has been approved by the two signatory parties. Section 3 Certain liabilities agreed upon would still be taxed given that it has already paid withholding tax. Article 7 Freedom of movement for workers Section 1 National treatment must be enforced. Section 2 Abolition of any discrimination based on nationality, ethnicity, and religion in employment. Section 3 Equal rights and standards for working conditions. Section 4 The right to stay in the country of employment for as long as the individual has a legal profession in that country or is there to conduct business. Section 5 A foreigner may be given a 1-month stay in the other country, even if unemployed, for the purpose of finding another job or for setting up a business but is still subjected for approval of both signatory parties. Section 6 Repatriation of abused/maltreated workers with just compensation from the country involved (country involved must deal with the accused employer or employment agency according to their law). Section 7 Extradition of illegal aliens and workers or those arrested for a crime (home country must deal proper punishment according to their law). Section 8 Repatriation of overstayed workers (fine and/or ban from leaving home country again). Article 8 Most favored nation Section 1 Both signatory parties must receive equal trade advantages with other countries they also are conducting business with respectively. Section 2 Both signatory parties will not be treated less advantageously than any other country they each have trades with. Section 3 Both signatory parties would have the equal trade advantages with each other. Article 9 Amendments and cancellation Section 1 Amendments to the treaty may be proposed and discussed between signatory parties. Section 2 Implementation of new clauses to this treaty would be after 1 month has passed with no formal objections. Section 3 An announcement of nullifying this agreement must be formally given to the other signatory party a month prior to the planned cancellation. Signed For the Eurasian Federation * - Reyneir ze Gallis, Chairman * - Alejandro Erde, Secretary of Economy and Trade For the Union of Midway Category:Treaties Category:Eurasian Federation